ServiceTitan (NASDAQ:TTAN) Given Buy Rating at BTIG Research

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a report released on Friday, Benzinga reports. They currently have a $110.00 price objective on the stock. BTIG Research’s target price suggests a potential upside of 63.35% from the company’s current price.

Other research analysts have also recently issued reports about the stock. KeyCorp decreased their target price on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Evercore set a $90.00 price target on shares of ServiceTitan in a research report on Wednesday, September 9th. Robert W. Baird decreased their price objective on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. TD Cowen reaffirmed a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a research report on Friday, September 25th. Finally, BMO Capital Markets cut their target price on ServiceTitan from $103.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Trading Up 2.4%

NASDAQ TTAN opened at $67.34 on Friday. ServiceTitan has a 12 month low of $53.00 and a 12 month high of $111.36. The stock’s fifty day moving average price is $78.72 and its 200-day moving average price is $71.02. The stock has a market cap of $6.50 billion, a P/E ratio of -49.51 and a beta of 0.34.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company had revenue of $292.76 million for the quarter, compared to analysts’ expectations of $285.89 million. During the same quarter in the previous year, the business posted $0.33 EPS. ServiceTitan’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts forecast that ServiceTitan will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In related news, CFO David Sherry sold 23,246 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the completion of the sale, the chief financial officer owned 363,511 shares in the company, valued at approximately $20,745,572.77. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ara Mahdessian sold 3,148 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $179,656.36. Following the completion of the transaction, the chief executive officer directly owned 2 shares in the company, valued at approximately $114.14. This represents a 99.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 324,533 shares of company stock worth $26,813,042. 39.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceTitan

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in ServiceTitan by 598.9% during the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock valued at $1,977,000 after buying an additional 23,962 shares during the last quarter. Whetstone Capital Advisors LLC purchased a new position in shares of ServiceTitan during the 2nd quarter worth $3,275,000. WINTON GROUP Ltd purchased a new position in shares of ServiceTitan during the 2nd quarter worth $5,218,000. Integrated Wealth Concepts LLC bought a new stake in shares of ServiceTitan during the 2nd quarter valued at $115,000. Finally, NewEdge Advisors LLC grew its position in shares of ServiceTitan by 7,677.2% during the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after acquiring an additional 8,752 shares during the period.

ServiceTitan Company Profile

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan’s products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.